Formulating a Service Strategy – How Services Companies achieve Business Excellence

The services industry worldwide is witnessing major growth with the digitalization and latest technology advancements.

Businesses around the world are requiring services companies of various expertise to assist them in achieving business growth and fulfilling the customer requirements.

Having a specific strategy for the services industry is helpful for companies to easily scale up their business and achieve productivity. It also helps in delivering a positive customer experience and enhancing customer satisfaction.

Integrating all Organizational Functions

As there is no physical products sale involved in the services industry, the focus of the services market is to always treat the customer the best way

. A service strategy is more customer-centric and all department functions such as selling, operations, human resources, etc., must work hand-in-hand.

Customer Service is a key factor for success in the services industry. Employee management and handling customer complaints effectively.

The cost of getting a new customer is much more than entering the retention of the existing customers.

Services Strategy and Customer Satisfaction

The services strategy should be in sync with the marketing and overall objectives. Delivering positive customer service is a must to retain the existing customer.

Loyal customers will be brand advocates and social media is a great way to raise brand awareness through the customers. They can share positive views about the organization and influence other social media users to try the services.

High-Level Service Strategy

Organizations must formulate a high-level strategy to achieve the following business objectives:

• Increase market penetration by launching more services and segments in the markets
• Develop new markets by creating niche services and demand for the specific services and high net worth projects
• Develop Alternative Distribution channels that can help increase the market reach to non-competitive segments by partnering or associating with an expert in a new field
• Develop New Services that will help the existing customers and keep the operational costs low
• Launch New Services to New Markets by teaming up with a strategic partner, identify the high-value businesses, and pitch the services for more business.
• Assessing the risks at the right time and strategizing the business operations is the key to success in a services industry

Steps in Drafting an Efficient Service Strategy for an Organization

Crafting a Service Vision

The organizational objectives must always embrace a service strategy to focus on enhancing the service capabilities and setting up a right service-distribution network.

Understanding Customer Needs

The exact customer needs must be identified and it must be fulfilled by the organization's business goals.

Customer feedback must be obtained and the required queries must be answered by the company. Customer Satisfaction surveys are the best way to capture customer feedback.

The required information must be collected and corrective actions must be taken accordingly.

Employee Engagement

The right employees have to be hired to ensure the customer satisfaction is delivered by the organization.

Employees are the face of the organization, hence, they must represent the right spirit and guide the customers the right way.

Hence empowering employees with more responsibilities and giving respect to the customers will result in high customer satisfaction.

Goal Setting for the Service Team

The service team must be onboarded with clear goals on achieving the desired level of customer satisfaction.

All the service parameters at every stage of the customer journey must be addressed by the service team. The lesser time is taken to address a customer, the more will be the customer satisfaction.

Constant Training and Development

Continuous training and development session is an essential component for the success of a service team.

The service team must be capable of handling various scenarios to handle customer complaints effectively. The right service strategy requires the team to be equipped with not only all technical skills but also customer management.

Soft skills like answering customer phone calls and customer complaints and providing the right solution are the win for the service industry.

Accountability

Accountability is a crucial element in a services company. Employees must have accountability in terms of handling the customer requirements the right way and achieve the service goals.

Awards and recognitions

Awards and recognitions count a lot for brand image, especially in the services industry.

As there are no physical products to sell or the customers to experience and recall, the services companies are often remembered through positive reinforcements in the form of awards and recognitions.

The Certifications, awards, and achievements and using the same in marketing communication will have the customers recall the brand.

Above all the quality of service speaks for the service company and the awards are a testimony to the customer satisfaction delivered by the services company.

To know more about setting up a services company in UAE, talk to our expert team right away!

Visits us at www.dubaifreezonecompany.com

Contact Us: Aurion Business Consultants

John Wick is a marketing consultant at Aurion Business & ISO Consultants. John writes about company formation, ISO Certification, business support services, etc.